Caesars Entertainment (NASDAQ:CZR) Price Target Cut to $55.00 by Analysts at Morgan Stanley

Caesars Entertainment (NASDAQ:CZR) had its price objective decreased by Morgan Stanley from $56.00 to $55.00 in a research note issued to investors on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CZR has been the subject of several other research reports. TheStreet upgraded Caesars Entertainment from a d rating to a c- rating in a research report on Friday, August 4th. Susquehanna upgraded Caesars Entertainment from a negative rating to a neutral rating and lifted their price objective for the company from $27.00 to $39.00 in a research report on Thursday, May 25th. StockNews.com assumed coverage on Caesars Entertainment in a research report on Thursday, August 17th. They issued a buy rating for the company. Barclays lifted their price objective on Caesars Entertainment from $74.00 to $75.00 and gave the company an overweight rating in a research report on Thursday, September 7th. Finally, Stifel Nicolaus lifted their target price on Caesars Entertainment from $68.00 to $74.00 and gave the company a buy rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $66.67.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $50.98 on Monday. The company has a debt-to-equity ratio of 2.67, a current ratio of 0.78 and a quick ratio of 0.76. The company has a market capitalization of $10.98 billion, a PE ratio of 16.08 and a beta of 2.91. Caesars Entertainment has a one year low of $31.31 and a one year high of $60.27. The business has a 50 day simple moving average of $54.63 and a 200 day simple moving average of $49.00.

Caesars Entertainment (NASDAQ:CZR) last posted its earnings results on Tuesday, August 1st. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.33 by $0.49. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.86 billion. Caesars Entertainment had a return on equity of 5.71% and a net margin of 6.03%. On average, sell-side analysts forecast that Caesars Entertainment will post 1.36 EPS for the current fiscal year.

Insider Activity

In other news, CAO Stephanie Lepori sold 33,282 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $51.70, for a total value of $1,720,679.40. Following the sale, the chief accounting officer now directly owns 41,910 shares in the company, valued at $2,166,747. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Caesars Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of CZR. Soros Capital Management LLC grew its position in shares of Caesars Entertainment by 0.4% in the fourth quarter. Soros Capital Management LLC now owns 47,164 shares of the company’s stock valued at $1,962,000 after purchasing an additional 200 shares during the last quarter. Czech National Bank grew its position in shares of Caesars Entertainment by 0.8% in the second quarter. Czech National Bank now owns 25,486 shares of the company’s stock valued at $1,299,000 after purchasing an additional 209 shares during the last quarter. Creative Planning grew its position in shares of Caesars Entertainment by 2.6% in the second quarter. Creative Planning now owns 8,413 shares of the company’s stock valued at $429,000 after purchasing an additional 212 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Caesars Entertainment by 1.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,775 shares of the company’s stock valued at $855,000 after purchasing an additional 225 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Caesars Entertainment by 1.4% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,421 shares of the company’s stock worth $837,000 after buying an additional 225 shares in the last quarter. Institutional investors own 91.32% of the company’s stock.

About Caesars Entertainment

Caesars Entertainment, Inc operates as a gaming and hospitality company in the United States. The company owns, leases, or manages domestic properties in 16 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts sports wagering across 28 jurisdictions in North America, including mobile for sports betting and regulated online real money gaming in six jurisdictions in North America; retail and online gaming and sports betting; and other games, such as keno.